BB&T hires energy lending group

HOUSTON — BB&T has hired a six-member energy lending team based in Houston, Texas, to focus on oil and gas production and midstream companies.

"The addition of this team to BB&T Capital Markets' energy platform is part of a long-term strategy to expand our presence in the oil and gas sector and represents a significant growth opportunity for us. We are committed to this strategy of helping our clients access capital from a trusted and proven financial partner," said Rufus Yates, president and CEO of BB&T Capital Markets.

"BB&T's strong commitment to energy lending makes it the perfect partner for exploration and production as well as midstream companies, which typically have capital-intensive growth plans," said Jeff Forbis, Energy Group team leader for BB&T Capital Markets Corporate Banking. 

BB&T currently has extensive energy risk management capabilities in Houston through its team of insurance industry specialists at McGriff, Seibels and Williams, an insurance subsidiary of BB&T. In addition, BB&T Capital Markets added a team of equity research analysts dedicated to the energy sector in 2010.

BB&T Corp. made its entrance into the Texas market with the Colonial Bank acquisition in 2010 and is well positioned to support the energy sector as one of the best capitalized banks in the US.

BB&T's Energy Group consists of a six-person team with significant experience in oil and gas lending:
• Jeff Forbis, senior vice president and team leader, has more than 30 years of energy banking experience and specializes in oil and gas reserve-based and midstream lending for the capital-intensive oil and gas sector.
• David Phillips, senior vice president, has more than 30 years of experience in the energy sector.
• Ryan Michael, senior vice president, has 11 years of energy banking and investment banking experience.
• Parul June, assistant vice president, has 11 years of experience in banking, with more than five years in energy lending
• Cherie Allen, corporate banking analyst, has 21 years of banking experience, with seven years in energy banking operations.
• David Wesley, senior vice president and regional loan administrator, has more than 30 years of banking experience with 12 years in the energy sector. Wesley will be based in Winston-Salem, N.C., with the Corporate Credit Administration team.

BB&T Capital Markets offers an integrated platform of research, investment banking, sales and trading and corporate banking to corporations, governments and nonprofit organizations. In addition to the energy sector, BB&T Capital Markets has deep industry knowledge and execution capabilities in commercial and industrial, consumer, defense and government services, financial services, healthcare and logistics and transportation services. BB&T Capital Markets is a division of Scott & Stringfellow LLC, a wholly-owned non-bank subsidiary of BB&T Corp.

Source:  BB&T



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